Blue Finance builds an alliance to monetize and protect Marine Protected Areas
While Marine Protected Areas (MPA) are spreading globally, only a few have robust compliance and enforcement mechanisms in place while the majority may not be much more than paper tigers.
A key obstacle to effectively managing MPAs is lack of economic resources. This does not have to be the case, as proven by a consortium of dedicated partners who are striving to turn one of the world`s most productive ecosystems into a business case for the benefit of local people, nature, and impact investors.
© Paddleboard pic: Grant Thomas / coral reef image bank
© turtle: Thomas Vignaud
The Blue Natural Capital Financing Facility (BNCFF) is financing and supporting the Blue Alliance for the Oriental Mindoro MPA, a social enterprise formed by local NGOs, communities and Blue finance in order to manage the network of MPAs in Oriental Mindoro.
Managing and enforcing MPAs that include pristine coral reefs and mangrove ecosystems is an integral part of the model. Without it the same money would not be there to be made.
How does it work?
It brings all MPA stakeholders together and charges visitor fees to tourists who enjoy this superb destination, primarily as divers and snorkelers. Income is used to protect nature and create jobs for locals.
What is in it for the tourists?
Cleaner water, more fish and more fun!
The endeavour in a nutshell:
- More than 5,200 hectares of Marine Protected Area.
- A UNESCO Biosphere Reserve that is home to a number of endangered species including whale sharks, hawksbill turtles, dugongs and many more.
- A tourist destination welcoming over 200,000 thousand tourists per year.
- An attractive debt investment opportunity to finance capital expenditure for MPA management.